Shiba Inu (SHIB), a popular meme coin, has been moving up in the market, despite Bitcoin’s recent spotlight. SHIB rose 8.18% last week as Bitcoin hit a major milestone. Analysts now expect further growth.

Key takeaway:

1. Potential 200% Surge for SHIB: Analyst MMBTtrader predicts Shiba Inu could rise to $0.000038 if it holds key support levels, indicating strong upward potential.
2. Bearish Caution from Analyst: Analyst sees a possible 35% correction if SHIB fails to break past $0.0000216, advising traders to watch for this drop.
3. Crucial Resistance Levels Ahead: SHIB's future depends on breaking resistance at $0.0000216 and $0.000028. These levels are vital for its next price movement.

Analyst Sees 200% Potential for Shiba Inu

Crypto analyst MMBTtrader is feeling confident about SHIB's future. He predicts a 200% rise to $0.000038. SHIB has already gained 75% from its $0.000011 support.

Recent Gains and Stabilization

SHIB’s recent rally kicked off from a demand zone in August and September. It picked up speed and found a stable point at $0.000019. MMBTtrader expects SHIB to follow a pattern of higher highs. He sees it pushing towards May’s high of $0.000028, then correcting to September’s $0.000021.

If SHIB holds these levels, it could aim for $0.00003852. The pattern of higher highs and lows supports this bullish move.

Read More: Surge in Shiba Inu Burn Rate as SHIB Sees Price Uptick

Conflicting Views: Analyst’s Bearish Prediction

Not everyone is bullish, though. Analyst Analyst takes a more cautious view. He believes SHIB might rise to $0.0000216, then fall 35% to $0.000014075.

Potential Correction Warning

Analyst predicts a correction starting at $0.0000195. He sees this as an opportunity for short trades if the downtrend happens. Analyst also notes that if SHIB surpasses $0.0000216, his bearish outlook might not hold. If that happens, SHIB could go much higher.

Read More: Shiba Inu Burn Rate Surges by Over 700%: What Does This Mean for SHIB's Price?

Shiba Inu’s Future Path

Right now, SHIB is trading at $0.00001925, around 11% below the $0.0000216 resistance level. Analysts are divided on its next move. MMBTtrader forecasts a potential 100% gain if the trend continues, while other analysts warn of a possible correction. As SHIB approaches this critical point, traders looking to take advantage of these movements can buy SHIB on Bitrue today!

Key Levels and Momentum

SHIB's future depends on clearing key resistance and keeping momentum. As SHIB nears these levels, traders will watch for breakouts.

FAQ

Q1: What key resistance levels should traders watch for Shiba Inu?

A1: Traders should monitor $0.0000216 and $0.000028. Breaking past these levels could signal a bullish breakout, while failing may trigger a correction.

Q2: How does MMBTtrader’s prediction differ from Analyst’s analysis?

A2: MMBTtrader expects a 200% rise if SHIB holds support levels. Analyst, however, sees a potential 35% drop if SHIB fails to surpass $0.0000216.

Q3: What indicators suggest Shiba Inu might correct in the coming weeks?

A3: Analyst highlights $0.0000195 as a key point. A drop below this level could trigger a 35% correction, making it an important marker for traders.

Conclusion

Shiba Inu's price is at a critical turning point. It may either break past resistance levels and continue its upward momentum or face a correction in the coming weeks. Traders should closely watch key levels like $0.0000216 and $0.000028, as these will determine SHIB’s next move. 

Whether SHIB doubles in value or pulls back, the outcome will be crucial for its trajectory. Keep an eye on the market, and for those ready to capitalize on the opportunity, you can buy SHIB on Bitrue today!

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